Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts

Meridian Trust FCU RCA (3.07%, $15K)

Friday, November 2, 2012 - 8:31 AMMeridian Trust Credit Union - Details
Requirements for the MaxRewards checking at this 5-star rated Wyoming institution are tiered:

To earn the 3.07% rate, requirements re: 

$1,000 Minimum monthly balance is in checking account only, not all deposits combined.

10 monthly debit card transactions, minimum of $5.00 per transaction 

Minimum of one direct deposit per month


Minimum aggregate month-end loan balance of $5,000 or more for all loan balances


To earn 1.5%, all of the above, but the loan requirement is dropped.


To earn 0.5%, there are no requirements other than the $1,000 minimum monthly balance.
pearlbrownpearlbrown1,491 posts since
Nov 2, 2010
Rep Points: 6,490
1. Monday, July 29, 2013 - 1:04 PM
The above requirements/rates are unchanged as of this date and the credit union continues to be 5-star rated. 

Highlights re membership:

As an alternative to the usual residence/employment qualifications, the following individuals are eligible for membership (see who can join page):
  • Military personnel - active and retired
  • Smart Money community members (the educational community is run by the credit union and can be joined online for a lifetime membership fee of $5, which is fully refunded when you become a member).  There is an online app for the Smart Money community here. 
The online membership application immediately asks that you confirm you meet one of the membership requirements.   However, based on a conversation with a helpful CSR, there are no zip-code or other restrictions later on so it looks like the ability to join via the Smart Money community regardless of actual place of residence may qualify this as a nationally-available RCA.    However, the $1,000 minimum and the $5000 minimum loan balance may limit interest in the account, since one can do better than 1.5% on a $15k cap elsewhere. 

The application process is as follows: 
  • Complete Smart Money enrollment if that is how you will qualify.
  • Complete the online application.    When finished, the application is automatically forwarded to New Accounts and a representative will build the account based on the information provided.
  • Once the account is built,
           a) account agreements and disclosures will need to be signed, and this can happen through Email or snail mail.   A new accounts rep will contact you to discuss this.

           b) account funding:  will be discussed at same time as a) above.  You can either mail a check (min $1,010:  $1,000 for the Max Reward account minimum balance + $10 minimum savings account balance) or provide routing and account number info and they can arrange for an electronic withdrawal.    Please note that the $1000 is not a minimum average daily balance.  It is a minimum balance, period, and to qualify for the high rate, the account must be at least $1000 at the end of each day. 

           c) verification of identity:  the credit union will need a copy of your driver’s license and your Social Security card.  This can be transmitted through Scan-and-Email or snail mail.

If the RCA does not interest you, you may wish to consider the credit union's CDs (see deposit rates here).  The credit union is currently paying 1.9%APY on a 60-month CD, for example (available to regular CDs and IRA accounts).  Members 60 years old or better receive an additional 0.10% increase on all new share certificates. The fine print states that special promotional rates may not be combined with other offers. 

There is a $500 minimum deposit for all certificates, and share certificates may be added to in $100 increments up to an additional $5,000 during the term of the certificate.   The interest is compounded quarterly.

Early withdrawal of certificates of 12 months and under will forfeit the interest that occurs in the last 90 days.

Early withdrawal of certificates greater than 12 months will forfeit the interest that occurs in the last 180 days.
pearlbrownpearlbrown1,491 posts since
Nov 2, 2010
Rep Points: 6,490